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Jul 12, 2012 7:00pm PDT
s.e.c. filings by bain capital put him as you noted as the sole stockholder, chairman of the board, 100% owner, president, ceo, et cetera of bain capital until 2002, which is later than his stated exit date of february of 1999. >> one of the things in the filings indicate he was getting a salary from bain and the brackets indicated on that form simply indicate that the salary was above $100,000. do you have any idea what the salary actually was? >> we don't. you're only required to report a range, so it says $100,000. it could be any amount beyond that. we know it was more than that in total coming in from bain, because this is separate from the capital gains he earned on the investments. those are passive investments. but what's interesting is that money, the $100,000 was for being an executive at bain. that was in 2001 and 2002. those are not noted as passive. so that's a big distinction to make. >> the executive salary is for doing a job. >> one thing is the issue of mitt romney's integrity. the other, of course, is the s.e.c. if mitt romney is misleading the s.e.c. in terms of
Jul 12, 2012 7:00pm EDT
on the record that mitt romney may be a felon for criminally misleading the s.e.c. this desperate over-the-top extends from this baseless "boston globe" article, disproven by private investigators. we're all over this fast-moving story. also this evening i am sick and tired of stories like this one in the "new york times" saying mitt romney isn't tough enough or strong enough to take on obama or beat him. remember this, folks, romney took out newt gingrich with two brutal slam downs in the florida debates, and then he took out santorum. we'll discuss how mitt romney is the most underrated politician since ronald reagan. and the dow closes down again today, six days in a row, 31 points. coming back from triple-digits drops but investors aren't happy with the economy. and the new york fed out with a study saying if it weren't for federal reserve stimulus, markets would be 50% lower. to that i say nonsense! profits are the mother's milk of stock, not a bunch of phony money. but first up tonight, a key member of president obama's reelection team drops an over-the-top bain bombshell on an o
Comedy Central
Jul 17, 2012 1:30am PDT
on the technicality that romney signed sec filings listing himself as the company's sole stockholder, chairman of the board and chief executive officer and president. (laughter) i mean, who knows. who knows what's true? it's a simple case of he said, he filed sec documents to contradict what he said. and of course, of course, folks, no surprise team obama is piling on. the campaign manager stephanie cutter says these documents prove either romney is misrepresenting his position at bain to the american people or he is misrepresenting his position at bain to the sec, which is a felony. not true. lying to the sec is not a felony, it's an entire industry. (laughter) folks-- get it right. get it right. folks, there's a good explanation for why romney has said one thing to the public and something different to the sec. as romney spokesperson ed gillespie explained to public access channel cnn. >> jim. >> he took a leave of absence and in fact he ended up not going back at all and retired retroactively to february of 1999 as a result. >> stephen: okay? in 2002 he retired retroactively back to 1999. (
Jul 16, 2012 3:00pm EDT
and cftc. >> those lawmakers say the agency needs to maximize the resources they already have. former sec enforcement attorney philip kinda says additional funds are necessary as technology keeps wall street a step ahead. chris, former sec enforcement attorney, says throwing more money at the agencies won't make them do a better job. philip, let me begin with you. so you say additional funds are necessary. yet, markopolis gift wrapped it to the sec and could have easily figured out the global stuff if there was ever -- a reliable cop on the beat. so -- money doesn't give you a brain or more insight into what's going on. why is money the answer? >> there are two things. you are exactly right about madoff. i wish i was still with the sec and handed that file. we need a more effective sec and an sec that needs to be able to keep up with the technologies, strategies, that have become far more sophisticate order wall street, put aside enforcement and think about markets, surveillance, high frequency trading. they don't have the tools to do it now. that's where money comes in. problem on enforc
Jul 25, 2012 8:00pm EDT
by combatants by the democratic republic of the congo known for human rights abuses. d.o.d.-frank requires the s.e.c. to issue a rule directing publicly-held companies to disclose whether gold and other metals used in the products they produce came from central africa where trading in these commodities have funded years of civil i can't remember. the s. c. issued a proposed rule but delayed finalizing the rule in response to fierce business opposition and business lobbying. this proposed rule is proposed to cost $71 million. the benefits of this rule cannot be quantified. by ensuring that publicly-traded companies in the united states track the supply chain of minerals and disclose whether their purchases are financing armed groups for committing atrocities, killing people, rapes, hurting people, this proposed wrule will save lives and help prevent sexual and gender-based violence. adopting this amendment would prohibit the issuance of this regulation intended to quell international violence and help end humanitarian crises. we can't put financial property above our moral obligation to protect the m
Jul 12, 2012 3:00pm PDT
as the ceo and president of bain. in 2001, his s.e.c. filing said the same thing. and his disclosure forms for 2002 show he was paid over $100,000 as quote, executive at bain capital. he signed these forms himself. now, why does all this matter? first it's a question of character. we have to ask if romney is distorting the truth about his own record. second, it undercuts his main defense against attacks on his time at bain. that he wasn't working there when the company made some of the worst layoffs. >> they said oh, gosh, governor romney at bain capital closed down a steel factory. but their problem, of course, is that the steel factory closed down two years after i left bain capital. i was no longer there. so that's hardly something which is on my watch. >> but these documents show it was on romney's watch. he was getting paid over $100,000 as the president and ceo of bain capital while it was shutting down companies and ruining lives. that includes 258 jobs lost at ampad in 2000. the 750 jobs lost at gs industries in 2001. and the 1700 jobs lost at behring by the time it declared bankru
Jul 21, 2012 2:00pm EDT
, but it is not unique to that bank." you opposed the sec designation. now, the hbus compliance officer described ates bank as an "government owned in a high-risk country with a politically exposed person who is 72 requires enhanced due diligence -- who requires enhanced due diligence." he recommended an sec designation. your response, "this is such a large bank. hands malfeasance is expected." "however, i do not agree on these breaches that the bank should be classified." so, your position was nonfeasance is to be expected at a large bank, so do not even bother to do additional anti- money laundering monitoring. exhibit 82 from 2007. in this e-mail, an hbus bank note colleague asks if you and mr. lok would be willing to help to open an account for islamic bank bangladesh which was partly owned by a saudi arabian bank whose account was closed by hbus in 2005 for terrorist financing reasons. in part in 2007 because of your urging, hbus 3 opened the account. "i am happy to be the relationship manager if this is an account with jason." how much money did you expect to make from this name? when you were t
Jul 12, 2012 6:00pm EDT
the folks seem to take issue with. >> gene, when you read the article and have a former s.e.c. commissioner saying and i'm reading the quote -- it doesn't make a whole lot of sense to say he was technically in charge on paper but had nothing to do with the operation. are you telling me he owns a company but had no say in the investments? i mean, that's a little hard to believe if he owned a company, was getting paid, but had nothing to do with any of the investments and what was going on with the company. >> well, it seems to me if you step back, there are really only two possibilities here. either a lie is being told now, or a lie was told to the s.e.c. in all those filings. and it is not a technicality who runs a company. especially when you're talking to the s.e.c. this ask a key piece of information that you have a responsibility -- a legal responsibility to get right. so they can't both be true. he can't have been telling the truth both in those filings and now about his role with bain capital. it's just not possible. >> well, in fact, the obama campaign strategist stephanie cutter sla
Jul 15, 2012 10:00pm PDT
a felony if the misrepresented to the sec how long he was at the equity firm. >>> it is troubling the president would label his campaign to direct and and let romney as a felon. >>> romney says the president should stop personal attacks and focus on the and economy. >>> in an interview taped thursday and shawna cbs sunday morning president obama admitted he cannot criticize romney for attacking his record on the economy. the president argues his policies need more time to work. dru levenson cbs news >>> when did mitt romney's leave bain capital? advisers and both campaigns clast over differences in sec filings and romney's disclosures. >>> the american people need to understand either you're the ceo and president of bain capital as you attest to the sec or he tells the american people he bears no responsibility as a year in charge or you are not from the information that's been tripping out, that he was involved in bain capital. >>> investigative journalist shows governor romney left behind in 1999. the reason why there are documents in 2002 with his signature during the transitio
Jul 17, 2012 8:00pm EDT
in the journey towards a complete implementation of title seven. beyond the definitional rules the sec adopted rules that estoppel procedures for their review of certain actions undertaken by the clearing agencies including their submission of information to the sec about the security based swaps they plan to accept for clearing. they're designated as systemically important under the act to submit advanced notice of changes to the rules, procedures or operations that could affect the nature of the rest of the agency's. moving forward, the sec expect soon to complete the last of the core elements of the proposal phase of rules related to the financial responsibility of the dealers and major securities participants. further, we intend to propose any single holistically rulemakings roles and interpretive guidance suggesting the international implications of title seven. our cross border approach will be informed by discussions with the cftc and regulators in other jurisdictions. i expect the commission's proposal will address the international implications of title seven with respect to each of t
Jul 12, 2012 10:00am PDT
, "boston globe" with a new story today alleging that mitt romney actually left much later, he was signing s.e.c. documents two years after he said in his financial disclosures he actually left bain capital. and at the same time, a new mitt romney campaign ad accusing team obama of lying about outsourcing as well. >> a furious back and forth, d andr andrea. the romney campaign has called that "boston globe" article inaccurate and make the point that mitt romney had no control over the investments or no involvement of the investments after 1999 when he left bane in capital to run the olympics in salt lake city. "boston globe" reported on s.e.c. filings that mitt romney signed ahead, he was a ceo of bain capital, do allow democrats and the obama campaign to say, look, some of the things, mitt romney had an involvement with bain capital. maybe he wasn't running day-to-day operations, moving investments here and there. his basic dna, everything about bain capital goes back to mitt romney. that's the argument they're going to be making, whether jobs are created or whether jobs were outsourced by ba
Jul 16, 2012 4:00am EDT
, the headline romney's signature appears on bain s.e.c. filings during time he says he left bain, between '99 and 2001, mitt romney, then ceo of bain capital, signed at least six documents that the private equity firm filed with the securities and exchange commission. can you understand the confusion here about when he was at bain and when he wasn't? >> yes. and the fact is, he took a leave of absence from bain to go and run the olympics in salt lake city. as you remember, at the time the international olympic committee was going to pull the olympics from the united states, which would have been a huge embarrassment for our country. there was corruption. it was poorly run. it was in chaos. and they needed someone of mitt romney's stature and leadership ability to come in and save it. so he took a leave of absence from bain and left a life that he loved to help a country that he loves more, to save the olympics. and he was not responsible for day-to-day decisions, did not participate in day-to-day decisions of the management of the company at that time. he was on leave. so, as former s.e.c. ch
Jul 13, 2012 3:00am PDT
boston globe report romney's sec reports list him until 2002. his camp insists he left in 99. that quo mean he lied on his sec forms. that's a felony. his campaign asked the globe to correct the question. the groen said no. we will have to wait as the facts come out. join us in chat press. we have a big, big hour and the i.q. will go way up. how are you ever going to solve the problem if you don't look at all of the pieces? >>tv and radio talk show host stephanie miller rounds out current's morning news block. >>you're welcome current tv audience for the visual candy. >>sharp tongue, quick whit and above all, politically direct. >>you just think there is no low they won't go to. oh, no. if al gore's watching today... ♪ ♪ ♪ ♪ ♪ ♪ [ male announcer ] what's the point of an epa estimated 42 miles per gallon if the miles aren't interesting? the lexus ct hybrid. this is the pursuit of perfection. there she is ! hey, i got a leak ! yoo hoo ! wait a minute, come back ! um, miss ? up here! right. like 85% of us you have hard
Jul 12, 2012 1:00pm PDT
as bain's sole stockholder, chairman of the board, ceo and president. on sec filings into 2002. the romney campaign has responded in a statement, quote, the article is not accurate. as bain has said, as governor romney has said and had been confirmed by independent fact checkers multiple time, bain left in february of 1999 to run the limb p picks and had input on magt of companies after that point. but hang on. what was it romney said yesterday about responding in politics? >> i respond to the attacks that come, they say in politics, if you're responding, you're losing. >> let's get right to our panel including the man who had the early jump on the story, david corn with us from washington, d.c. and also joining us here in new york, charles blow. david, you've been one of the first to report on this back at the beginning of the month in mother jones. and you found romney's break with bain wasn't so clean, but how dirty are the details really? >> well, you know, they keep trying to set up this bright, clear line in the campaign and bain on february 1999 and romney had nothing to do with the
Jul 13, 2012 1:00am PDT
the years. so what's really interesting now, though, when you see in paper trail an and the sec documents that list him throughout a variety of documents as president, ceo, chairman of bain capital and sole owner of a variety of investment partner ships, including five that were created in 2002. so the paper trail that they created over those three years really paints a totally different picture of mitt romney's involvement with the firm. if you look at the paperwork alone, it shows that he was the man in charge. that's a big startling change from the way that they've described it over the years. now the key is that they -- he indeed did leave. he was indeed in salt lake. so, you know, to a certain extent, he's legally in charge. i don't think that the globe and other reporting is not saying he was in the boardroom on a daily basis at bain calling the shots. but certainly his records show that he was in charge. he had legal responsibility. he was the man with oversight responsibility for people in the company. >> well, is it legal or, i guess, more broadly, is it considered kosher in busi
Jul 13, 2012 3:00pm PDT
or not, we don't know. but we do know he signed the s.e.c. filings. and you don't sign the s.e.c. filings in advance two or three years. so he was actively every year signing new filings. >> yeah, exactly. every year they filed. he's vouching to regulators saying i'm ceo of this company. what's bizarre to me is they find themselves where he seems to be simultaneously away from the company and running the company two two different groups. they're telling the federal government he's still the ceo. all of this has been done so that he has some plausible deniability in this deal with gst steel who fired a lot of folks and sent the jobs over. what gst steel did wasn't that different from anything bain did in the years when romney was actually running bain. i mean, bain was doing what bain was doing which was in some cases bankrupting companies and in other cases outsourcing jobs because that's what private equity companies do. he was doing that the whole way through. they're now caught in this trap by making this distinction what bain did before 1999 and after. >> it was in effect doing the sa
Jul 17, 2012 11:00pm EDT
. this was about whether to classify a particular bank note client as a special category client, so-called sec which means that a high risk client that undergoes additional scrutiny. hbus described the bank as one in which, quote, the senior management and employees have been involved in numerous significant instances of corruption, fraud and embezzlement over the past few years and recommended that it be classified as a special category client sec. you responded as follows. quote coming yes, corruption can be rampant in this bank but it is not unique to that bank. so you oppose the sec designation. now, the hbus compliance officer for bank notes daniel jack described the bank as government-owned in a high-risk country with a politically expos person which is someone who requires enhanced due diligence and reputation of risk due to corruption, etc.. this is now exit 84 and he recommended an sec designation and your response, quote, this is such a large bank pence malfeasance is expected. however, you wrote, i do not agree that just on these numerous breaches the bank should be classified. so y
Jul 12, 2012 6:00pm PDT
's version of when he left bain capital untrue and they have the s.e.c. filings to prove it. so what's it going to be, mitt? did you flat out lie to the american public or did you lie to the s.e.c.? the latest chapter in mitt's secrets and lies starts now. >> jennifer: we have breaking news tonight that mitt romney's role at bain capital may have been more significant and lasted longer than he had originally claimed. we have uncovered documents that reveal that he was actively involved in bain capital businesses even though he claimed that he retired from the private equity company in 1999. current tv has learned that mitt romney was the 100% stakeholder in 11 bain capital entities later than 1999. he signed a document in 2003, right here, may 27th of 2003. this is his signature. this is a document that was filed at the massachusetts state ethics commission. a statement of financial interest for calendar year 2002 when he was governor. this document said that he was holding several executive positions at bain capital and
Jul 13, 2012 4:00am PDT
was supposed to have left the company to run the winter olympics in 1999. the globe identifies nine s.e.c. filings naming romney as bain's chief executive three years after he took the olympic job. the paper said documents filed through 2002 list romney as, quote, sole stockholder, chairman of the board, chief executive officer, and president. and during the period in dispute, many of the job loses due to bain decisions and investments as will as allegations of outsourcing occurred. romney's campaign insists as of yesterday he was no longer at the firm and wasn't part of the decision-making. a bain statement yesterday explains that due to romney's sudden departure in 1999, it took time to transfer ownership to his successors, which led romney to continue to be listed in various positions in the s.e.c. filings. well, the obama campaign pounced on the story, calling it the, quote, big bain lie. obama deputy campaign manager stephanie cutter charged the presumptive republican gop nominee that he may have even engaged in illegal activity by misrepresenting his position at bain to the s.e.c. a
Jul 14, 2012 2:00am PDT
and talked about the sec filings and the inconsistencies then. it seems a lot to do about nothing then. this may seem to be a lot to do about nothing, but we'll talk pure politics here. what the president is successfully doing is he does not want to talk about his record. he doesn't have a record to run on. so they are going with this thing with bain that has the media's attention and they are going with that. the problem with the media, romney is coming out at 6:00 tonight to address this. i hope he does to put this behind him. ultimately the voters will have to decide whether this is a lot to do about nothing or whether it means something. but i think if mitt romney gets this behind him, he mentions back to the president's dismal record on the economy. >> michael, i can tell you -- >> the reality is as you're pointing out, the president got a terrible jobs report recently and we have not spent the last ten days focused on that. the narrative has been driven by the bain issue. let me show david corn something. yesterday a romney campaign adviser gave this explanation to politico for w
Jul 14, 2012 5:00am EDT
and talked about the sec filings and the innsisncie en it see a l tdobout thin en. is m see toe a l to out noing,ute'llalk pureolitshere at t psides suessfly dngs heoes not want to talk about his cord. he doesn't have a record to run on. so they are going with this thing wi baithat has the dia'atteion d ty a goinwith th. th proem wh tmedi roeys cing o a 00 toght ddreth. i hope does to put this behind him. ultimately the voters will have to decide whether this is a lot to do abo notng owhetr iteans sothin but thin if mit romy gs th behd hi he mtion ck tthepresent' dmal cord othe ecomy. >> miael, canell you -- the reality is as you're pointing out, the president got a terrible jobseport recently and we have not spent the last ten days focusedn th. the nartiveas bn dveny thbainise. lete sw dav cor someing. stery omne camign advir ga thi expnati to polico f wtis boss' role at bain was between 1999 and 2002. quote, romney was on the sec filings becaushe w still tenicay twnerutasn' ansfredwnerip tother paners he w thnicly t owner. one of those yesterday explained the contradiction between what t
Jul 12, 2012 4:00pm EDT
of sec documents that show that he was signing these documents, claiming that he was in control of various bain entities for a year or two or three after this point in time and that he was controlling stock that was being bought by bain and other companies. he claimed to be in the management committee in these documents. there are other documents that show bain entities being created in his name after he supposedly left bain. there's a press release bain put out that describes him having taken a leave of absence and quotes him as the ceo of bain. i think we're getting drawn into a fight over technicalities because bain still was his. he still benefitted from what was happening in terms of profiting from their deals and still signing their papers. it's got to be inconceivable that for all those years, he wasn't asking, checking, vetting, having some input to what bain was doing. was being done in his name, so he's responsible. and all i can tell you about the story i wrote today, bain in china. >> it's a fundamentalically contradictory story. charles, the bain pr team has issued
Jul 12, 2012 4:00pm PDT
now that we find out from "the boston globe" he had s.e.c. filings that said hey wait a minute, i'm still in charge. "the globe found nine s.e.c. filings after february 1999 that describe romney as bain capital's boss some show him with managerial control over five bain capital entities that were formed in january 2002". do you understand what's happening here? on one set of forms, he said i had nothing to do with bain. any bain capital nothing to do with it. on the other forms that "the boston globe" has just found he's saying i'm totally in charge of bain. i own 100% of it, i'm the ceo the main shareholder, the president and i'm running the entities. both things cannot be true. if you lie on one of the forms it could be five years in prison, it is a felony. it is a very serious crime. in essence, "the boston globe" seems to have mitt romney a little bit in the middle of a ring. what ring would that be? let me see. don't do it! it is a felony for you right there. all right. by the way david axelrod tw
Jul 15, 2012 8:30am PDT
his position at bane to the s.e.c., which is a felony, or he was misrepresenting his position at bain to the american people. >> schieffer: romney fought back in five separate interviews and called for an apology. >> this is reckless and absurd on his part and it's something which is beneath his dignity. >> schieffer: back and forth it went. in the cruelest slap of all, the obama campaign rolled out an ad featuring mitt romney singing. (singing off key) ♪ for purple mountains majesty... ♪ >> schieffer: today we'll hear from stephanie cuter who made the allegations against romney. kevin madden, senior romney advisor and paul ryan, wisconsin congressman said to be on romney's short list of possible running mates. we'll get analysis from moody's mark zandi, former clinton labor secretary robert reich, john fund of the "national review," rana foroohar of "time" magazine new york magazine's mike rich, michael gerson of the "washington post" and our own john dicker son and norah o'donnell. >> this feels kind of good! i need to cool off a little bit. >> schieffer: he may have som
Jul 15, 2012 11:00pm PDT
olympics president obama's says sec documents show he was legally in charge through 2002 when jobs were shipped overseas. advisers say they will not apologize for suggesting romney may have committed a felony if he misrepresented to the sec. >>> and it is troubling the president will direct his campaign to someone with like mr. romney as a felon. >>> ron says he obama administration should should stop the personal attacks and focus on the economy >>> we know now the president will demean those seeking the highest office in the land even if it means to demean the highest office in the land. >>> in an interview with charter rose he does not criticize running for his comments on the economy >>> the president says he needs more time for his economic plan to work >>> more than 1 million people live in the united states with hiv/aids at today's aids walk the focus not on money john ramos tells us the goal is awareness especially for new generation. >>> it is important we bring people's memory along. >>> small fragment of the aids quilt 6 in golden gate park reminder for the 20,000 to john the
Jul 13, 2012 7:00pm PDT
such a when. >> reporter: beh number of people whouse for sec motorcycle a week from leasing companies. nonperforming ond-hand motorcycle loans rose 0.6% from january to march this year. it's more than to prevent bad loans from increasing even the central the measure as a precaution. the loans will econom a long ti. >> reporter: intends to the number and president limi economies, but the country is bracingrn. jakarta. >> and that's going to wrap pati the ja okinawa surveys indicated the presen decades later, the dispute >> public over the jamprehens military should occupy the >> translator: japan needs to stronger action. >> transla the government will do what it by j china closely.ed just 12 hours before both countries' tt his counterpart repeated that the islands belong to china. wi >> i think there's not so much doubt that they were sent by the chinese government to express their distrust.ntion to nationaf we should point out two factors. one is the party congress is in delicate, sensitive political . know, the nationalistic from t into a and it's the same -- the situation in th
Jul 13, 2012 5:30pm PDT
might have been lying to the s.e.c., but several experts told us not so. o putting that information on that form does not necessarily mean that you're an active wnnager of the company. >> reporter: tom storkin is a former s.e.c. investigator and enforcement attorney. c's entirely possible he owned this company but didn't run the e.mpany? >> that is correct. he could have been on a leave of on sense. >> reporter: romney would have made money if the companies doing that outsourcing sold at a profit, but, anthony, the s.e.c. documents do not show that romney ran bain after '99 or that he personally shipped jobs overseas. >> mason: thanks, wyatt. earlier today chief political correspondent jan crawford talked to governor romney. >> reporter: governor romney, the obama campaign is saying you either committed a felony by lying to the s.e.c. or you're orng to the american people tout when you left bain youtal. what do you say to that? >> well, i think this kind of atatement from the obama team is really shocking. it's ridiculous. and it's beneath the dignity of the presidency. thimply thin
Jul 13, 2012 3:00am PDT
date in 1999. the globe found nine s.e.c. filings submitted by four different entities after february of 1999 that describe romney as bain capital's boss. some show him with managerial control over five bain capital entities that were formed in january of 2002. romney has repeatedly said he is not responsible for bain's business dealings after 1999 and this is important because it goes on to say, and shouldn't be blamed for the firm's decision to close american factories and move jobs overseas. his campaign pressed the globe for a retraction. calling the article, quote, not accurate. nevertheless, the president's re-election team is pouncing on the issue. obama deputy campaign manager stephanie cutter says when it comes to the most recent incident, the disparity in the dates may be a federal offense. >> either mitt romney through his own words and his own signature was misrepresenting his position at bain to the s.e.c., which is a felony, or he was misrepresenting his position at bain to the american people to avoid responsibility for some of the consequences of his investments. and i
Search Results 0 to 49 of about 737 (some duplicates have been removed)